Rakuten Securities Inc. Makes New $3.06 Million Investment in monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 16,266 shares of the company’s stock, valued at approximately $3,055,000. monday.com makes up about 2.4% of Rakuten Securities Inc.’s investment portfolio, making the stock its 8th biggest holding.

A number of other large investors have also made changes to their positions in MNDY. Bank of New York Mellon Corp acquired a new stake in shares of monday.com during the 1st quarter worth about $8,834,000. BlackRock Inc. boosted its stake in shares of monday.com by 151.9% during the 1st quarter. BlackRock Inc. now owns 33,300 shares of the company’s stock worth $5,264,000 after purchasing an additional 20,079 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of monday.com during the 1st quarter worth about $590,000. Vanguard Group Inc. boosted its stake in shares of monday.com by 240.1% during the 1st quarter. Vanguard Group Inc. now owns 8,922 shares of the company’s stock worth $1,410,000 after purchasing an additional 6,299 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of monday.com by 6,322.6% during the 1st quarter. Renaissance Technologies LLC now owns 199,100 shares of the company’s stock worth $31,472,000 after purchasing an additional 196,000 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MNDY. KeyCorp began coverage on shares of monday.com in a research report on Thursday, March 21st. They issued an “overweight” rating and a $275.00 target price on the stock. Jefferies Financial Group raised shares of monday.com from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $230.00 in a research report on Friday, January 5th. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $277.00 to $250.00 in a research report on Wednesday, April 10th. Tigress Financial raised their target price on shares of monday.com from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company started coverage on shares of monday.com in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $260.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.33.

monday.com Trading Down 1.6 %

monday.com stock traded down $3.02 during mid-day trading on Wednesday, reaching $184.90. The company’s stock had a trading volume of 132,441 shares, compared to its average volume of 806,982. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of -2,645.19 and a beta of 1.18. The business has a 50 day moving average price of $218.16 and a 200-day moving average price of $188.48. monday.com Ltd. has a twelve month low of $108.35 and a twelve month high of $239.22.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. The firm had revenue of $202.60 million during the quarter, compared to the consensus estimate of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The firm’s revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities analysts expect that monday.com Ltd. will post -0.16 EPS for the current fiscal year.

monday.com Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.